Wealthy Chinese investors are to consider £24bn of projects in the North as the Chancellor pins hopes of building a Northern Powerhouse on a renewed relationship with the Far East.

Newcastle’s Science Central will be among the potential investments set out in a ‘Northern Pitchbook’ to be shown by George Osborne to senior Chinese business officials in the southern city of Chengdu on Thursday.

But, as the Conservative hails the region as “a magnet for foreign investment”, his message to the North was dismissed by Newcastle Labour MP Nick Brown as “the triumph of presentation over substance” which contained “not a word of comfort” for workers at the under-threat SSI plant in Redcar.

Mr Osborne, who is joined by North city leaders including Newcastle City Council’s Nick Forbes on the trade mission to China, said: “As we continue to work more closely with China, we have an unprecedented opportunity to secure significant investment into some of our most ambitious projects across our Northern Powerhouse.

Leader of Newcastle City Council, Nick Forbes

“From Liverpool to Newcastle, we are opening up our doors to investment that will not only help us to grow and create jobs, but will allow us to build infrastructure to rival any region in the world.

“The North of England is already a magnet for foreign investment into the country and we’ve seen with announcements from Nissan and Hitachi into the North East recently highlighting how perfectly poised our Northern Powerhouse is to attract the eye of global companies.”

A briefing from the Treasury says the Chancellor will announce “potentially doubling” the amount of enterprise zone sites in the region, as well as a Government report “looking at existing links” between UK and Chinese cities and a “new offer” on a scholarship programme to strengthen links between North university cities, including Durham and Newcastle, and those in China.

Mr Brown, however, said the UK Government should be offering the North East money, adding: “The Chancellor is whistling in the dark. His statement represents the triumph of presentation over substance.

The Chinese flag flies during a parade commemorating the 70th anniversary of Japan's surrender during World War II held at Tiananmen Square in Beijing (Image: PA Wire)

George Osborne:

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“There is not a single firm announcement of inward investment for the North East of England and not a word of comfort for Redcar and the dumping of cut-price Chinese steel on the world market. Our own Government ought to be investing our own money in our own country.”

But the Treasury insists its pursuing of Chinese cash is the route to delivering growth and high-skill jobs for the region.

Commercial Secretary to the Treasury Lord O’Neill, a key architect of the Government’s devolution and Northern Powerhouse agenda, said the delegation is part of a wider strategy.

He said: “Today is about making sure that the North is at the heart of our plans to grow investment into the country and we will be able to showcase compelling projects to ambitious Chinese investors.

“But it is also about making sure we are cooperating and learning from China’s urbanisation experience, including the progress China has made in supporting and coordinating regional development and promoting the development of city clusters.”

Leader of Newcastle City Council, Nick Forbes, said the region must make a wide case for investment to give the North a fighting chance in the face of the economic growth of London.

He said: “Newcastle and the North East, home of the original industrial revolution are integral to the rebuilding of our national manufacturing base. As the only region in England that already has a balance of trade surplus we have even more potential to be realised.

“I’m here in China with the Chancellor and other northern civic leaders and businesses to present a united front for the investment opportunities we can offer.”